Nature of a fixed asset roll forward
Fixed assets (also called property, plant and equipment) may
represent a significant number on the balance sheet of a company. Thus, it is
critical to maintain good records about fixed assets and related fixed asset activity.
Usually, fixed assets are recorded in several balance sheet accounts. Each
fixed asset account is devoted to a particular asset class (e.g., land,
buildings, leasehold improvements). There are also corresponding accounts for
accumulated depreciation (e.g., accumulated depreciation for buildings,
leasehold improvements).
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